Xponance Inc. Has $347,000 Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Xponance Inc. lifted its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 27.6% in the 2nd quarter, Holdings Channel reports. The firm owned 17,466 shares of the business services provider’s stock after buying an additional 3,778 shares during the quarter. Xponance Inc.’s holdings in Marathon Digital were worth $347,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MARA. Vanguard Group Inc. lifted its position in Marathon Digital by 26.7% during the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after acquiring an additional 4,950,392 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Marathon Digital by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after purchasing an additional 2,340,472 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Marathon Digital by 186.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after purchasing an additional 1,327,969 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Marathon Digital by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares during the period. Finally, Public Sector Pension Investment Board bought a new position in shares of Marathon Digital during the 2nd quarter worth about $11,920,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Price Performance

MARA opened at $15.07 on Wednesday. Marathon Digital Holdings, Inc. has a one year low of $7.16 and a one year high of $34.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The company’s 50 day simple moving average is $16.89 and its 200-day simple moving average is $18.78. The stock has a market capitalization of $4.26 billion, a P/E ratio of 7.01 and a beta of 5.51.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. During the same period last year, the company earned ($0.13) earnings per share. Marathon Digital’s revenue for the quarter was up 77.5% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MARA shares. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Thursday, June 20th. Macquarie assumed coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target on the stock. B. Riley boosted their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.61.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,212 shares of company stock valued at $726,178. 1.11% of the stock is currently owned by insiders.

About Marathon Digital

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.